Burbank Names Vernon Sorensen Chief Executive
Vernon E. Sorensen Jr. has become president and chief executive officer of Burbank National Bank, Burbank, Calif. J. H. Woods Jr., a director, had been serving as interim president and CEO, replacing Clifford Shank, who resigned last year to pursue other employment opportunities in the banking industry.
Mr. Sorensen comes to Burbank from Bank of Industry, City of Industry, Calif., where he was executive vice president and chief financial officer. During his eight years there, the Bank of Industry grew to more than $200 million in assets from $48 million.
Mr. Sorensen said one of his goals is to bring in additional capital.
"I fell there is plenty business for the independent bank," Mr. Sorensen said, "and as long as service is important, there will always be small independent banks in the community."
His selection was the culmination of an extensive search by the bank's board of directors.